Losses for February 2014 Week 2

I have incurred 2 massive losses last week and I attribute this losses to the following:

1. Hedge trading
2. Did not follow the outlined the set-up
3. Not enough analysis for possible stop

Hedge trade, I was holding 2 open positions which are on the opposites sides for the same instrument which is very DUMB of me. I should have just cut the losing trade which would have minimized my total losses. A proper hedge trade requires another instrument that is inverse of your current instrument.

If I was able to follow my set-up for 02.13.2014 my total P/L for Week 2 would be positive. Lesson learned, trust the set-up I have identified.

I have not done enough analysis for the 2 trades which resulted in a loss. Basically these 2 trades are trades against the current upward trend. I was trading the momentary dips in the main trend. I learned that this is not the best trade to take and can burn you!

Lesson learned, don't trade against the trend even if there is a signal. If you must trade against it, better take 150pips only.